BDC Capital invests $1 mln in Celtic House-backed Nuvyyo

BDC Capital has provided $1 million of mezzanine financing to Nuvyyo, the Ottawa-based maker of digital video recorder brand Tablo. BDC invested through its growth and transition capital group. Founded in 2010 by CEO Grant Hall, Nuvyyo developed Tablo to enable users to record and stream over-the-air television programming without a cable subscription. The company will use the loan's proceeds as working capital to support growth initiatives, including meeting U.S. demand for Tablo and increasing R&D to generate new products. In 2013, Nuvyyo raised a $4 million Series A financing from Canadian venture capital firm Celtic House Venture Partners.